Traders,

Monster Beverage made its way onto our Scouting Report for the second week in a row. And just a few minutes after the open this morning, it’s trying to trigger. The appeal of the pattern is simple. It’s a breakout on multiple time frames over a psychologically significant price level ($100).

The implied volatility characteristics make it even more compelling. With earnings in the rearview mirror and a narrow trading range defining prices since implied volatility has tumbled to the basement. The implied volatility rank stands at a paltry 7%, suggesting options are dirt cheap. This makes buying options more attractive than selling them. The inexpensiveness of call options means that MNST doesn’t have to rise as far to generate a profit. In other words, the odds of success are higher if you can buy calls in low implied vol environments.

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Video of the Day: Frank’s Charts – Hot Potential Swing Trading Picks

Watch this clip with Coaches Frank and Matt where they share a few charts and discuss potential Swing Trading Picks $JNJ $HRB $DOW $MNST $AEM $TRP

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Chart of the Day: Monster Beverage ($MNST)

Clean breakout. Low IV. What’s not to like?

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Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only Matt and Tim can deliver.

Bear Market Survival Guide MasterMind Group 7:00 PM EST

In these MasterMind Group sessions, we will be illustrating how to acquire and pay for portfolio insurance. We’ll also lay out what you can expect from these monthly pow-wows moving forward.

Weekend Reports

Watch the Stock, Options, Commodity, and Tackle Newsletter Reports to help you prepare for the week.

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